• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Ecommerce Giant Amazon To Launch NFT Initiative
Advertisement

New Users are Flooding into Bitcoin; Will This Catalyze a Move Past $10,000?

Cole Petersen by Cole Petersen
3 years ago
in Bitcoin
0
Advertisement
  • Recent comments from the CEO of Binance seem to indicate that the cryptocurrency exchange is seeing a massive influx of new platform registrants
  • He also notes that the activity level of these registrants is much higher than that seen several months ago
  • This could be an early sign of an imminent wave of new retail adopters – the same ones who drove Bitcoin’s price up to highs of $20,000 in late-2017
  • From a technical perspective, there is still significant work to be done until the crypto is poised to see another major rally

Bitcoin’s halving has directed a spotlight onto the benchmark cryptocurrency, with the event garnering widespread coverage that has reached far beyond just the crypto industry.

News regarding this event has been coupled with extensive reporting on the comments made by macro investing legend Paul Tudor Jones regarding BTC. In the eyes of many investors, his comments have legitimized Bitcoin as an investment vehicle.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

It appears that traditional investors have taken notice of these developments, as the Binance CEO is now noting that new registrant activity is surging towards its all-time highs.

Binance Sees Wave of New Registrants as Bitcoin Hype Grows

The hype stemming from the recent halving and comments from public figures such as Paul Tudor Jones appears to be halving quantifiable impacts on the crypto market.

Changpeng Zhao – the CEO and founder of Binance – explained during a recent fireside chat at Consensus: Distributed that his exchange has seen a massive influx of new users in recent times.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

“The new user registrations are picking up very aggressively, like getting close to the sort of [users] generated [before] 2018,” he explained.

He further went on to add that the activity levels amongst these new users is also high – a sign that the number of active market participants is rapidly growing.

“The activity level is definitely much higher than even three or four months ago,” he stated.

These comments seem to suggest that Bitcoin and the aggregated crypto market could be seeing an influx of new users similar to that seen prior to the parabolic rally in 2017.

How Plausible is a Massive Rally from a Technical Perspective? 

Bulls still have their work cut out for them if they want to fuel a major upside movement in the weeks and months ahead.

According to a recent analysis offered by a popular cryptocurrency trader named Nik Patel, Bitcoin first needs to reclaim its position above $9,480 and flip this level into support before it is able to climb higher.

An ability to do this, he notes, could be enough to catalyze an upside movement that sends it to its yearly highs at $10,550.

“The first of these is a long setup based on a reclamation of $9480 as support with a target of those highs at $10,550. For a bearish setup, I’d be looking for a retest and breakdown from the $9480 level,” he explained.

Bitcoin
Image Courtesy of Nik Patel
Featured image from Unplash.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin Lightning Network POS Clover

Major Adoption News For Bitcoin: POS Giant Clover Starts Lightning Trial

4 hours ago
Bitcoin

These Metrics Hint At Massive Bitcoin ‘Buying Opportunity’, Says Analyst

19 hours ago
Bitcoin Whale

Bitcoin Exchange Whale Ratio Surges, What Does It Mean?

1 day ago
Bitcoin Accumulation And Distribution: Which Cohort Is Taking Part In What

Bitcoin Accumulation And Distribution: Which Cohort Is Taking Part In What

2 days ago
Adam Adam-Back-1 Blockstream

Adam Back-Led Blockstream Raises $125 Million To Expand Operations

2 days ago
Ethereum

Grayscale Won’t Back Down Even If Court Backs SEC’s Spot Bitcoin ETF Decision

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Polkadot (DOT) Sees Renewed Attention While Orbeon Protocol...

    6 hours ago
  • BudBlockz (BLUNT) and Polygon (MATIC) Are The Only Coins...

    6 hours ago
  • DeFi Is About To Dominate The Next Bull Run With Lido DAO...

    6 hours ago
  • Avalanche (AVX) and Fantom (FTM) Won’t Make You 1000x...

    6 hours ago
  • Crypto Price Predictions: Solana (SOL), Aptos (APT), and...

    6 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.